The “Business Facilitation Unit (BFU)” was established in January 2022 as part of the “Strategy for Attracting Investments and Talent”. The BFU operates under the auspices of the Ministry of Energy, Commerce and Industry and is the pivotal “Contact Point” for businesses wishing to establish their presence in Cyprus or expand their business activities in Cyprus.

Responsibilities & Services

Main responsibilities of the Unit

• Provision of information/guidance on the licenses required for establishment, operation or expansion of company activities in Cyprus, depending on the type of investment/nature of business;

• Providing facilitation on expediting initial company registrations, such as of a new company in the Companies Register of the Department of Registrar of Companies and Intellectual Property, the Employers’ Register of the Social Insurance Services and the Tax Department’s Register; Direct and Indirect Taxation.

• Accepting applications from companies wishing to be registered in the Register of Companies with Foreign Interests; held at the Unit. By registering in the Register, companies can benefit from the incentives announced by the Government, regarding the facilitation for expedited employment of highly-skilled, third-country nationals.

Digital One-Stop Service (DOSS) for Renewable Energy Sources (RES) projects

“DOSS” operates as a “One-Stop Shop” for the licensing of RES projects

It is the applicant’s single point of contact during the licensing process, and provides:

• Comprehensive information and guidance on the required permits for the implementation of a RES project as well as information on the possibilities of securing financing and lending;

• Receipt of applications – on behalf the licensing authorities – for obtaining the pertinent licenses and updates on the progress of the licensing process;

• Guidance and mediation for any issues that arise with the various Services/Departments and licensing authorities;

• It is noted that in July of 2023 the first phase of the new “Digital One-Stop Shop” online platform was put into operation, which provides, online, the relevant information on the existing procedures.

Point of Single Contact (PSC) Cyprus

Facilitation Service for the establishment of businesses in the Services Sector

• Providing information on the procedures and formalities required to set up a business, gain access to regulated services and professions and/or provision of cross-border services.

More information can be found on the webpage: https://www.gov.cy/meci/en/business-facilitation-unit-bfu/